According to statistics released today by the Monetary Authority of Macao, broad money supply continued to fall in September with a stable share of patacas.  Meanwhile, both resident deposits and loans dropped from a month earlier.

Money supply

Currency in circulation and demand deposits rose 0.5% and 1.1% respectively. M1 thus increased 1.0% from one month earlier.  On the other hand, quasi-monetary liabilities fell 1.9%.  The sum of these two items, i.e. M2, decreased 1.6% to MOP690.5 billion.  On an annual basis, M1 dropped 8.2% whereas M2 grew 2.8%.  The shares of pataca (MOP), Hong Kong dollar (HKD), renminbi (RMB) and United States dollar (USD) in M2 were 33.6%, 47.6%, 4.6% and 12.4% respectively.

Deposits

Resident deposits went down by 1.6% from the preceding month to MOP671.9 billion whereas non-resident deposits rose 0.9% to MOP322.3 billion.  Meanwhile, public sector deposits with the banking sector increased 0.1% to MOP263.1 billion.  As a result, total deposits in the banking sector decreased 0.6% from a month earlier to MOP1,257.4 billion.  The shares of MOP, HKD, RMB and USD in total deposits were 18.9%, 47.8%, 4.3% and 25.9% respectively.

Loans

Domestic loans to the private sector dropped 0.1% from a month ago to MOP539.7 billion. Analysed by economic sector, “electricity, gas and water” and “information technology” increased at respective rates of 5.7% and 4.2% compared with a quarter ago, whereas “manufacturing industries” and “restaurants, hotels and similar” dropped 11.2% and 7.5% respectively. Meanwhile, external loans fell 4.1% to MOP658.9 billion. As a result, total loans to the private sector went down by 2.3% from a month earlier to MOP1,198.6 billion.  The shares of MOP, HKD, RMB and USD in total loans were 16.7%, 42.7%, 9.5% and 28.8% respectively.

Operating ratios

At end-September, the loan-to-deposit ratio for the resident sector rose from 57.1% at end-August to 57.7%.  On the other hand, the ratio for both the resident and non-resident sectors decreased from 97.0% to 95.3%.  The one-month and three-month current assets to liabilities ratios stood at 56.1% and 55.8% respectively.  Concurrently, the non-performing loan ratio increased from 0.35% at end-August to 0.40%.